+
Mahindra Lifespaces acquires land parcel in south Bangalore
Real Estate

Mahindra Lifespaces acquires land parcel in south Bangalore

The 4.25-acre land tract is in the Singasandra neighbourhood of south Bangalore and was purchased by Mahindra Lifespace Developers, the Mahindra Group's real estate and infrastructure development division.

The site is predicted to have a gross development value of over $4 billion and a developable potential of over 4.6 lakh square feet, with the majority of that space being used for luxury residences.

We are pleased to add this new project to our portfolio because Bangalore is a critical growth area for our residential industry. The introduction of our residential property Mahindra Eden had an overwhelmingly positive response, and this project, which will be our third in Bangalore, follows, according to Arvind Subramanian, MD & CEO of Mahindra Lifespace Developers.

He claims that this most recent acquisition is in line with the company's objective of increasing the developer's footprint in the city's important micromarkets and further strengthening its foothold in India's information technology (IT) capital.

The land piece is conveniently situated off Hosur Road and provides access to nearby social infrastructure, including educational institutions, medical centres, and shopping areas. The land piece is also close to Electronics City, India's largest IT and electronics cluster.

Mahindra Lifespace Developers anticipates beginning construction on the project's first phase in 2023.

The 4.25-acre land tract is in the Singasandra neighbourhood of south Bangalore and was purchased by Mahindra Lifespace Developers, the Mahindra Group's real estate and infrastructure development division. The site is predicted to have a gross development value of over $4 billion and a developable potential of over 4.6 lakh square feet, with the majority of that space being used for luxury residences. We are pleased to add this new project to our portfolio because Bangalore is a critical growth area for our residential industry. The introduction of our residential property Mahindra Eden had an overwhelmingly positive response, and this project, which will be our third in Bangalore, follows, according to Arvind Subramanian, MD & CEO of Mahindra Lifespace Developers. He claims that this most recent acquisition is in line with the company's objective of increasing the developer's footprint in the city's important micromarkets and further strengthening its foothold in India's information technology (IT) capital. The land piece is conveniently situated off Hosur Road and provides access to nearby social infrastructure, including educational institutions, medical centres, and shopping areas. The land piece is also close to Electronics City, India's largest IT and electronics cluster. Mahindra Lifespace Developers anticipates beginning construction on the project's first phase in 2023.

Next Story
Infrastructure Urban

Naidu Seeks Rs 563 Crore For AP Sports Infrastructure

Andhra Pradesh Chief Minister N Chandrababu Naidu has sought Rs 563 crore from the Centre to boost sports infrastructure in the state, including Rs 538 crore for stadium development and Rs 25 crore to host the Khelo India Martial Arts Games 2025. Naidu made the request during a meeting with Union Youth Services and Sports Minister Mansukh Mandaviya in New Delhi on Wednesday.The CM urged early completion of Khelo India infrastructure projects in Tirupati, Rajahmundry, Kakinada, and Narasaraopeta, and called for an international-standard badminton training centre and a national aquatic sports hu..

Next Story
Infrastructure Transport

Tough Bidding Norms Slow NHAI Road Project Awards

Stringent bidding rules imposed by the Ministry of Road Transport & Highways (MoRTH) have led to a slowdown in project awards by the National Highways Authority of India (NHAI), despite a robust Rs 3.5 trillion pipeline. According to an HDFC Securities report, the shift to more cautious developer models now favours firms with strong balance sheets, as tighter qualification norms limit aggressive bidders.The revised norms mandate additional performance security, targeting the exclusion of players that previously submitted low bids—often 25 to 40 per cent below NHAI cost estimates—raisin..

Next Story
Infrastructure Transport

Mumbai Gets Coastal Nod for Next Promenade Phase

As Mumbai prepares to open two major sections of its expansive seafront promenade this week, the city’s civic authority has secured a key coastal clearance to advance further construction. The Maharashtra Coastal Zone Management Authority (MCZMA) has approved the commencement of work on the segment between Haji Ali and Baroda Palace, with tendering expected soon after project cost assessments.The promenade, stretching 7.5 km in length and 20 metres wide, is being designed as a flagship open space for walkers, joggers, and cyclists. Two critical stretches—2.75 km from Tata Garden to Haji Al..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?